tv Bloomberg West Bloomberg September 17, 2015 8:30pm-9:01pm EDT
(the lion sleeps tonight.) woman snoring take the roar out of snore. yet another innovation only at a sleep number store. angie: it is a: 30 here in hong kong. and we are in our from the opening of trading here. asian markets reacting to deja vu all over again. as the s&p, dow, and wall street essentially giving back the .ains ahead of the decision we are seeing red arrows across the board here. ip."are watching "first ip. up." stories this hour, shares fall.
concern about the strength of the global economy, japanese shares are leading the decline. up more than one half percent. that is where the rate hike comes in,. . swaying the decision near near zero rate. janet yellen says it increases on the cards this year. australia is adapting to life after the mining boom, just fine, according to glenn stevens. the decline in the aussie dollar has boosted tourism. sustralia has cut rate twice this year to nearly 2% to spur investment and consumption. let us check out the asian pacific. there you have it. it is red arrows, as i said. and this was the late start of the day, off of japan's selloff leading the way. it is down 1.5%. south korea as well, we have
central bankers making comments this morning. equities down 1/10 of 1%. really a culmination of reaction after they released the statement, janet yellen takes questions from reporters in the news conference. here's a bit of what she had to say. janet yellen: the central open market committee reaffirms the percentage target rate for the funds range. since the committee met in july, the pace of job gains has been solid. the employment rate has declined. marketrall labor conditions have continued to improve. inflation, however, has continued to run below our longer-run objective. partly reflecting declines energy prices. we still expect that the downward pressure on inflation from these factors will fade
over time. recent global economic and political developments are likely to put further downward pressure on inflation in the near term. to outlook abroad appears become more uncertain as of late. and heightened concerns about growth in china and other haveing market economies led to notable volatility in financial markets. , including the drop in equity prices, the further appreciation of the dollar, and the widening in risk spreads, have tightened overall conditions to some extent. the committee anticipates that inflation or remain quite low in the coming months. de,these temporary effects fa and importantly as the labor market improves further, we expect inflation to move gradually backwards to our 2% objective.
angie: let's cross over to melbourne. david stringer, what is happening to the mining companies this morning? david: good morning. 11 talking about the selloff across asia. there is a brighter spot on the gold miners. some of the gold companies are showing gains this morning, new crest mining and evolution mining -- they are the number one and number two largest. both up just a few moments ago around 4%. they are outperforming a wider index of gold miners. about 3.7%, the best showing gains not surprising. gold is a haven asset. you expect to see them benefiting from the fed decision. companies, mining
they are doing the reverse. seeing them showing some the cline in light of what you are describing across the markets more generally. angie: what about gold? gold: knows apprise the surprise theno gold had a bit of a lift. that is expected. gold does have a haven demand. anticipated that investors would turn back to gold. but the question is whether that is sustainable. a rate rise is still coming from down the track, and it will be seen as a negative for gold in the longer term. to see of goldng can sustain that. and the price is little changed a few moments ago. investing,how are we the reaction to all this?
david: i think that is probably caution.ood degree of some of the short-term moves, what is all caps about the longer-term? i guess a little more pessimism, if you like on the global economy. it will not be seen as a positive, for commodity investors. questions on to demand in china, the direction of the chinese economy. that still doesn't look that positive. so i guess that is the thing that will be forefront in their mind angie: david stringer, our commodity reporter out melbourne. thank you for that. time now for a look at the corporate stories on the bloomberg terminal. here is shery ahn. shery: the energy has rebounded from a record low after signing its largest ever solar panel supply agreement in china. the deal will see them supply
170 megawatt panels and china's provinces. it had fallen almost 80% this year with a decline accelerating last week. aftershares fell fourth-quarter sales and profits forecasts came short investment. that is after it attracted boards of drivers for his cloud services, which helped third-quarter sales beat estimates. 21% to more than $1.2 billion. adobe has spent three years because business from packaged software to web software. and successfully taking customers with it. texas instruments is gaining in extended trading, after it announced more details on how it will return cash to investors. the world's biggest analog chip maker has added seven and a half billion dollars. toy increased the dividend
$.38 per share. those are your top corporate headlines this hour. i am shery ahn. one a rulinghas that may for samsung to stop using features in a smartphones and cap us. we have yvonne following this, and what has been a four-year rivalry -- a battle you could say. very important victory for apple? yvonne: just to give you some perspective, back in may 2014, thee had already won jury verdict against samsung. but at the trial, the judge said that monetary damages were enough. he did go further and declined to issue an order or samsung was issued to remove some of these features. the question now, the slide to unlock, the auto correct, as
well as the quick link -- which we are familiar with. apple will appeal the ruling, and samsung may be forced to change its product when it comes to those features. and so apple has argued before that they cannot control how these patents are going. they will lose market share, they will lose reputation as an innovator. here,aching consequences some say this is a good president. cedent a good for other smartphone makers? yvonne: you have google, htc, lg, all backing the korean maker. saying this decision could potentially allow patent owners to leverage their right for competitive game. but this decision could be a powerful ability to block a powerful dimension.
you can increase negotiation settlement. apple also reached a settlement with htc to include its no cloning provision on the design. this ruling helps to do the same for other smartphone makers. for example, china's xiaomi trying to enter into the market. angie: a lot of challenges ahead. thank you, yvonne. sony has been moving away from unprofitable tvs to move to games. the ceo is betting on virtual reality to help this growth. we have our technology reporter with more in tokyo. grace, you are at the game show yesterday. r shapinge sony v up? grace: a better shape than many have expected. actually, when i was at the show, i talked to a bunch of people. they told me of the show that their top priority at the show
is the sony playstation vr. it is gaining attention from people in the industry. and also from the investors, as well. what makes it i think interesting is it gives you a sense of presence toward a different world. 's developersony conference, about a year ago, it is developing into good shape. angie: when will this product be available in the market? talked tos -- i also the game division head, and he told me that the build is on course. it will come up through the markets by the first half of next year. it will compete with facebook's oculus rift. angie: grace, thank you for
angie: checking the stories around the world. croatian has become the latest hotspot in the mass exodus towards western europe, after hungary sealed off the border. thousands of asylum-seekers poured into croatia from neighboring countries on thursday. meanwhile, the head of germany's immigration authority stepping down. undered schmidt had come fire. germany struggling to cope with some 800,000 migrants expected
to arrive this year. around five times last year's total. sunday's election in greece, voters on the greek island said the decision would be handled. this is to handled an influx of migrants, despite limited financial resources. the conservative new democracy party is among the front runners, according to the latest survey. let us take you now to the conferencee is now taking place. the forum brings together leaders from all over the world. and of course we have our reporter on the ground. >> well, sustainability may be the focus. us vice-chairman of ge joins
for his take on it now. some people were surprised. were you? >> in the end, we also see a world where there is not a lot of inflation. we see the turbulence in emerging markets. for why there was not an increase, we understand. and in the end, we have a job to do. and we will do it, whether the fed raises interest rates are not. >> janet yellen highlighted china as one of the reasons why she did not raise rates. they are concerned about the volatility. boss through china and through. john: for us, if we look at the long-term, we see the number one or number two market and everything we do for all our equipment technology, that has not changed. demand for infrastructure is good to be huge. we have to be part of that.
>> this is the second largest economy in the world. germany to 50% of trade. the likes of venezuela, australia, chile -- all of these commodity countries, and very indebted countries. surely there are negative repercussions from the? at? there are a lot of countries that have built economic growth around exports to china. we see that in brazil, in australia. that is what be soft for a while. there's absolutely no question. limiting some of the growth is the anticorruption campaign. which is a good thing for copy like ours and many others who like level, transparent field. lever for important them to keep going. >> volatility in emerging
markets, is that affecting your sentiment? perhaps the gm? john: he certainly see exchange rate volatility, equity volatility, all of which in many emerging markets creates a more challenging environment. but we also see populous governments that want to put infrastructure and. there are 35 gigawatts that the president has announced in indonesia by 2020. the indian prime minister is trying to accomplish similar things. and the place to our strength. ge is through it all, going through a transformation. it wants to focus on being a software company. explain to us this transformation, the thinking behind it. john: we are a software company, actually. we have 12,000 software
engineers. by ourselves, we would be in the top 10 or 15 globally. >> a target is to be the top 10. john: and we will keep growing. there is software embedded in all our projects. we have realized power of bringing data, designing better our rhythms, and delivering better results for our customers. for every jet engine, every wind turbine, every locomotives. >> what would the transformation entail? further consultation? john: it means we will grow in the space. we announced this week the creation of a software company. that is going to really sharpen our focus and allow us to collect our resources in a different way. we do not know where the end is. the space is changing so quickly. we see it every day.
i think we're just getting started. >> what you perceive as your competitors? john: every software company is going to become a hardware company. and every equivalent company or industrial company is going to become a software company. >> john, another focus? john: i think it is enormous mistake to let xm lapse. in a world where there is a trillion dollar or fall every think it is a huge mistake. we're going to have to do more that have countries export credit financing, fewer things in the united states. it is wrong for the u.s. and it is a huge mistake for congress. and i think it is not going to help the global economy. >> and the implications that you can expect from it would be? john: jobs that could have been
in the states will be someplace else. and it also means that the world's appetite for infrastructure that we were talking before is not going to be satisfied. >> what can businesses do? one of the options? john: we have been talking about this for a long time, continue to get the message to the elected officials about the importance of global trade. of conducting business -- part of the problem is you have a congress or the majority in congress support xm. for some reason, small minority groups for the far left for the far right in this case, you cannot get the bills passed. and that is not the way the framers of the constitution or the founding fathers in the u.s. contemplated it. >> john rice, thank you. coming to you from the conference.
david: you are cracking me up. angie: let me give you some credit here. you picked a stock that is shirking the overall market. there you go. it could have risen more. up,d: korean airspace million fore is $93 fighter jet training missions. angie: ok. probably the most in seven months,/income i-30 and percent. saying this one time charge in job cuts is out of the brazil unit. that is taking a big hit on overall investors. angie: not in the direction they
might appreciate. win foranother you. ♪ trending business coming up next. what are we looking at? >> i do not know. howe talking about the yen, it is affected by the lack of action. talking about that and much much more. he talks, people listen. had price rising in july. looking to see if this recovery can be sustained when it comes up. it should be part of the economy. platform. vr gaming angie: apparently grace check it
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